Evening Star Newspaper, March 20, 1933, Page 14

FINANCIA wm DROP IN INSURANGE BUSINESS IS SHOWN - February Total for New Poli- cies Is 23 Per Cent Under 1932 Figures. BY EDWARD C. STONE. New insurance written in the District of Columbia in February was 23 per cent lower than the total for February, 1932, according to the monthly report received today from Hartford, Conn. This was & much better showing than | the January figures revealed. The average drop for the whole United States was exactly the same as that for Washington, the report stated. Virginia made a slightly better record than Washington, new business being but 21 per cent behind the same month last year. Among other States in the fifth Federal Reserve district new in- surance in South Carolina was down 23 per cent, in Maryland, 26 per cent; in North Carolina, 30 per cent, and in West_Virginia, 35 per cent. Although there was a general de- crease in this territory and all over the United States, compared with the corre- sponding mantl‘l a yeerngogogmd “'f,',‘,"l B mih Sveraged over 520,000,000 1n every working day. 'rrl-yxe best record made by any State was produced by Alabama which was only 5 per cent below business done in February, 1932. Arizona and Idaho had the hardest sledding during the month, business in both these States being 45 per cent under the like period & year ago. g During February District of Columbia agents i’role $3.816,000 new business. Maryland reported nc;v l;:uslnsssmw't:l‘; e t‘xgég{rc\»,nss.‘i‘;g.eonn. while West, Virginia's total was $3.078,000. North Carolina’s business totaled $4.- 767,000 and South Carolina sales amounted to $2.242,000. Delaware, Georgia and Florida are included u;, n‘x: th Atlantic group. grou En:'hcde wrote $34,888,000 during the month. Joins National Building League. The Northwestern Savings & Loan Association, Takoma Park, has been admitted to membership in_the United States Building and Loan League, ac- cording to Secretary H. F. Cellarius of Cincinnati, Ohio.” In qualifying for membership the association submitted financial statements, by-laws and other details. The Northwestern Savings & Loan Association becomes 8 member of a na- tional organization in this fleld that has over 2.800 members. Its business is administered in Chicago. The league vas organized 39 years ago to aid the work of the local ]dmutlom in the e financing field. ho;‘he Norlhwgesmm Association will be entitled to send a delegate to the Jeague's conventions. It will also parti- cipate in the national programs for tax relief, home owning encouragement and other work undertaken by the league. According to E. V. Crittenden, presi- dent of the association, the assets were $1.856,964.35 at the time of the last annual report. Besides Mr. Crittenden the officers and directors of the as- sociation are W. S. Dewhirst, vice president; Howard S. Gott, secretary; Alfred B. Baker, attorney, and Arthur C. Keefer, Dr. J. W. Chappell, Dr. G. F. Coulen, Frederick Lewton, R. E. L. Jones, W. R. Tuckerman, Dr. W. W. Stockberger, Jesse H. Powell, directors. Treasury Regulation 10 Passes. One of the most important regula- tions issued by the Treasury as an emergency bank ruling has been can- celed. This regulation related to the payment of money for food and the transportation of food, other emer- gencies and for pay rolls. It was the regulation under which all “distress money” was permitted to be paid. The Treasury considers that the regulation is no longer needed and its withdrawal will conserve the assets in banks which do not have licenses to operate on full schedules. The aim of the latest rul}){n% is dt;o help conservators conserve bank funds. At the time the regulation was issued it was interpreted in detail by the Washington Clearing House Association for the benefit of the local banks, all of which were then under the holiday proclamation order from the President. It greatly relieved the situation in Washington as money was at once made available for “dire needs.” The Treasury takes the view that sufficient banks are now open to take care of all needs for necessities as well as for pay roll demands. Stocks Added to D. C. List. The governors of the Washington Stock Exchange added three more stocks to the list today, trading to begin 1OmOITow. The issues are Mergen- thaler Linotype, Woodward & Lothrop common and Woodward & Lothrop pre- ferred. Today's market opened Wwith twp shares of Potomac Electric Power 5l per cent preferred stock selling at 105. Lanston Monotype figured in four 10- share and one six-share sales at 40. The rest of the trading was confined to bonds. Washington Gas Light 5s, 1960, came out in a $500 transaction at 103. Potomac Electric Power Con- solidated 5s figured in two $1,000 sales at 103. The market closed with $1,000 Washington Railway & Electric 4s changing hands at 88. Heard in Financial District. Depositors in the Pranklin National Bank were greatly pleased to learn that Vice President Thomas P. Hick- man had been made conservator of the bank, relieving F. C. Ochershausen, temporarily assigned to this work. Mr. Hickman's cesk was covered with flow- ers today. Vice President Wilbur H. Zepp of the United States Savings Bank also assumed his duties_as conservator to- day, following the Treasury announce- ment made Saturday evening. He re- lieved J. I. Bailey, who had been acting as conservator temporarily. Mr. Zepp also received many congratulations from | the bank's customers. The interest in the New York Stock Market is being well maintained. judg- ing by the attendance in the "local brokerage houses. Today’s opening of the week was considered favorable by market followers, Incorporated Investors has declared the regular semi-annual dividend of 21; per cent in stock, payable April 20 to stock of record March 28. Gold Dust Corporation has declared the regular quarterly dividend of 30 cents on the common stock, payable May 1 to stock of record April 10. SILVER QUOTATIONS. NEW YORK March 20 (#).—Bar silver barely steady, Y lower at 27%. INVESTMENT TRUSTS NEW YORK, March 20 (#).—Over- the-counter marke (Quotations Am Bank Stock of 12 o'clock) Bid 1.20 10 2.66 Corporate Trust . 61 Corporate Trust A Corp Tr A_A Mod Corporate Trust Accum Ser. Trust Mass Invest Tr.. Nation_Wide Sec 258 9221 FEEd High. 5% 15% 10% 2% 64y 18% 1 6% 8 6% 15% 12% 15% 4% 12 1% 133 167 361 8 53 142 26% 9% 51a 31 79% 4n S 313 36 2 5 2% 8% 3% % 1 15 12% 3% 10% 145 13 5 T4 17% T7% 35% 6% 241 761 9% 131 2% 9% 7 6 1% 634 99 5% 6% ) 41% 45% 1% 2% 6% 59% 4% 287 315 1 31 1% 48% _2% 81 4% 58% 27% 15% 13% 38% 43 120 1933~ _ Stock and Low. Dividend Rate. 3 Adams Express. 10 Adams Millis (2) 6% Addreasograph...... 1% Adv Rumley...... 47% Afr Reduction (3). 11% Alaska Juneau(60c). 1 Alleghany Corp..... 1% Alleg Corp pf $30ww. 2 Alleg Cp pf $30 xw. . 70% Allied Chem & D (6). 6 Allis-Chalmers Mfg. 18% Amerada Corp (2)... 7% Am Ag Chem (Del) 8 Am Bank Note. 1 Am Beet Sugar. 2% Am Beet Sugar pf. 94 Am Brake Sh&F 60c. 49% [ 3 13 Am Comc'l Alcohol. . 4 Am Furopean Secur. 3% Am & Forelgn Pwr. . Am & For Pw pt (7). 4 Am & For Pw 2d pf.. Am Hide & Leather., 5 Am Home Prod 4.20.. Am Ice Co..... .. Am International. Am Locomotive. Am Mach&Fdy (80c). Am Metal Co. ... Am Power & Light Am P&Ltpf A (2%). % Am Pwr & Lt pf (3). Am Sm & Ref 7% pf. Am Snuft (13%)..... Am Steel Foundry... 213% Am Sugar (2). 80 Am Sugarpf (7). 6 Ani Sumatra Tob 94 Am Tel & Tel (9) 50% Am Tobacco (B) (5). 5 Am Type Founders 12 Am Water Works(1) 10% Am Wat Wks ctfs(1) 3 Am Woolen 22% Am Woolen pf. 5 Anaconda Copp: 84 Anchor Cap (80c) 1% Armour of Ill (A). % Armour of Il (B). 7 Armour of Tll pf. 314 Asso Dry Goods... 34% Atchison. . . 597 Atchison pf (5) 16% Atlantic Coast Line., 12% Atlantic Refining(1). 9 Atlas Powder. 1% Atlas Tack...... 814 Auburn Auto (2). 5% Aviation Corp (Del). 3% Baldwin Locomot. .. 9% Baldwin Locomot pf. 8% Baltimore & Ohio. ... 9% Baltimore & Ohio 3 Barnsdall Corp 7 Beatrice Cream 6% Bendix Aviation. 9 Best & Co 10% Bethlehem 25% Bethlehem Steel pf. 313 Blaw Knox : 53 Bloomingdale pf (7 91 Bohn Alumn & Bra: 18 Borden Co (1.60) 51 Borg Warner. 2% Briggs Mfg Co. 21% Bklyn Manhat Tran. 64 Bklyn Man Tr pf (6). 1% Brunswick-Balke. % Bruns Term & Rwys. 2 Bucyrus-Erle... 28% Bucvrus-Erfe pf (2). 1 Budd Wheel..... = 6% Burrough A M(40c). 2 Bush Terminal 3 Bush Term deb stk. . % Butte Copper & Zine. 8% Byers (A M).. 7% California Packing, 2 Calumet & Hecla. 7% Canada Dry G A (1). 7% Canadian Pacific 301 Case (J I) Co 40% Case (J1) pt (4) 51 Caterplllar Tractor.. 4 anese Corp. .. 14 Cent Aguirre (1%) 5% Cerro de Pasco. ..... 17% Checker Cab Mfg.... 24% Thes & Ohio (2%)... 147 Chesapeake Corp (2). 1% Chi Mil1 St P & Pac... 114 Chi Mil StP & Pac pf. 3 Chi & Northwestern. 2% Chi Pneumatic Tool. 3 ChiRockI&Pac.... 4% Chi R1& Pac 6% pf. 413 Chi RI1 & Pac 7% pf, 2 Childs Company. 7% Chrysler Corp'n. 71 City Ice & Fuel (2) 48% City Ice&Fuel pf 615. 200 73% Coca-Cola Co (7).... 6 314 Collins & Alkman 4% Colo Fuel & Iron 10% Columbia Gas (b1) Columb Gas pf A(8). Columbia Pict vte. Commercial Credit. Comc'l Credit (A Comel Cred 1st(8%). Comcl Inv Trust (2 Comel Inv cv pf(e6 Comel Solv (60c) Comwlth & Southn Congol-Nairn (60c).. Congress Cigar (1).. Consol Gas NY pf(5) 21 Consol Laundrie: Consol Oil Corp. Contl Baking (B) Contl Baking pf 1% Cuban-Am Sugar. 615 Curtis Publishing . 30 Curtis Publishing pf. 1% Curtiss-Wright. 4% Cutler Hammer. 1 Davison Chemical. .. 37% Delaware & Hudson. 17% Del Lack & Westn. .. 12 Dome Mines ($1.30). 10% Doug Afrcraft (75c. 31 Drug Inc (3) 32% Dupont de Ne: 501 Eastman Kodak (3). 3% Eaton Mfg Co... 11% Elec Auto-Lite 1 Electric Boat. ...... 1 Elec & Musical Instr. 3% Elec Pwr & Lt 10 Elec Pwr&Lt $7 pf... 21 FElec Storage Bat (2) 4 ErleRR........... 3 ErieRR2dpf..... Fashion Park As pf.. 12% Fidelity-Phoen 1.20.. 43 First NatStrs (2%). 4% Foster-Wheeler. ... 13% Fourth Nat Inv 1.10. 1% Fox Film (A)... 12 Frankin Simon pf(7). 200, 16% Freeport-Texas (2).. 4 FullerCo2dpf...... 13% Gen Am Tank Car(1) Gen Foods (2). % Gen Gas & Elec (A). 10 Gen Gas 8% cu pf B. 35 Gen Mlls (3)... 10 Gen Motors (1). % Gen Realty & Util... 12% Gtllette Saf Raz (1), % Gimbel Bros. . 9% Goodyear Tire&Rub. 9% Gotham Silk Hoslery 1'% Graham-Pajge 15% Grant (W T) (1) 6% Great Northern pf 5% Great Northern Or 7 Great West Sugar... s 8 7% Colgate-Palm-P (1). 85 5815 Colg-Palm-P pf (6).. 2 8 1 408 8 370 525 116 171 174 Eastman Kod pt (6). 100s 63 s 110 90 381 67 II+LI"III+HVI\* FEREFRIEFFESE S 41110 IR &5 3 l+:|l FEOFETS S Ol R, 2% O | - o - £ EE [+ 'l-l Vs IIIL FE OFEgpe 2 » Sy (A L S E B EREFER LIII ESFEE (I b | FRREER FFEE F FREFFS {58155 2 RO el @« FEFF - (R R - F F F OFFES % > o= PEFEELEEF * 14141 | o —% —% 3%+ % 18% 1% % — % 16 +% 1% 3% —1% 1% — % 5 ; 15% — % 10 —1% 1% 18% — % % - % —Prev. 1933— Stock and High. 94% 1% % 20% Low. Dividend Rate. 72% Great Wn Sug pf(7). Bales ki Add 00. High. Low. Close. Chse. | High. 2808 20 % Grigsby Grunow.... 5117 1 % Guantanamo Sugar. . 1% Hahn Dept Stores. .. 6% Harbison & Walker. . 15 Hercules Powder 1% 6 42 6 8 11 95% 87% Hercules Pow pf (7). 60s 80 169 51% 16% 3% 72% Hershey Choc pf(5) 145 Homestake Min (9). x 49 Househd Fin pf 4.20. 8% Houston Oil. . 1% Houston Oil ( . 11% Budson & Man (23%). 3 Hudson Motor Car... 1% Hupp Motors ceos 10% Illinois Central . 17 Illinois Central pf... 27% Industrial Rayon (2) 19% Ingersoll-Rand(1%). 2 Inspiration Copper. . 2% Insuranshrs Del 15¢. 4% Interboro Rap Trai % Intercontl Rubber Int Bus Mach (6) Int Combustion Int Harvester ( Int Hydr Int Nickel of Can. Int Silver. . 24 Jnt Silver pt, 5% Int Tele & Teleg 1% Interstaté Dept St... 11 Island Creek Coal(2) 23 Jewel Tea Co (3).... 28% 23% 11 16 3% 2 5% 3¢ 11y 8 10% 100 195 341, 147 4T% 18% Th 62 63% 15 15% T4 31 14 102 4% 10% 45% 62 10 G 3% 1% , [y 14% 25 1% 12% Johns-Manville. . 6% Kansas City Southn. 12% Kan City Sou pf (2) 2% Kaufmann Dept St. 7 Kelly Spring Tire. 3's Kelvinator Corp. 30 Kendall Co pf (6) 3 32 3 27 1 138 58 34 21 8 7% Kennecott Copper. . . 1035 4% Kinney (G R) Copf. 1208 .18 513 Kresge (SS)....... 92% Kresge (SS) pf (7)..x 14'3 Kroger Grocery (1). 22'x Lambert Co (4) 8% Lehigh Valley R R. 3715 Lehman Corp (2.40) 14 Lehn & Fink (2 4% Libbey Owens Glass. 10% Liquid Carbonie 11% Loew’s Inc (1) 1% Loft Inc.. 19% Loose-Wil . 10% Lorillard (P) (1.20). 8 Loulsiana Oil. . .. 21% Louisville & Nash. 4 Ludlum Steel. . McCall Corpn (2) 4 McCrory Stores pf. MclIntyre P M(11%). 4 McKeesport T P (4). McKesson & Robbins McKesson & Rob pt.. McLellan Stores. .. . Maey (RH) & Co (2). Mack Trucks (1).... Manhat Elev mod gtd Marine Midld (80c).. Marlin-Rock (1).....x ¢ Marshall Field & Co. Mathieson Alk (1%). Mengel Co. Mengel Co pf. Miami Copper Mid Continent Petm. Minn Moline Pow. .. M StP & S S Marie. .. 1208 146 6 131 144 17 1 12 134 162 93 53 5 64 35 M StP &S S Mlsd(4) 200s Mo Kan & Texas Mo Kan & Texas pf Missouri Pacific. Missouri Pacific pf. Montgomery Ward. Motor Products Mullins Mfg. Mullins Mfg pf Noarray Corp. .. ver FE & Bro (1).. 11% Nash Motors (1).... 31% t Biscuit (2.80)... Nat Biscuit pf (7)... Nat Cash Reg (A)... Nat Dairy Prod 1.20. Nat Distillers. . Nat Pwr & Lt (1) Nat Surety . 3 Nat Tea (60¢) k 4 tral & Hartford. Y NH & Hartpf.. Y Ont & Western. . Y Shipb’ldg (10¢). x 157 390 27 110 284 N Y Shipbldg pf (7). x 8708 59 N Y Steam 1st pf(7). Noranda Min (a1.10) 4 North Am Aviation.. 4 North Am (b8 %stk). 6 Northwest Tele (3). . 4% Ohio OIl..... . 1% Oliver Farm Equip. 10% Otis Elevator (60c). 97 Otis Elev pf (6) 1 Otis Steel. ... 2% Otis Steel pr pf. 31% Owens Ill Glass (2) 2214 Pacific Gas & El (2). 2813 Pacific Lighting (3). 6 Pacific Mills. .. .. 34 65 Pacific Tel & Tel (6).x 1% Packard Motor Car.. 1% Paramount Publix. .. % Param’t-Publix ctfs. Park Utah. .. A Pathe Exchange (A). 4 Patino Mines....... Penick & Ford (1)... Penney (J C) (1.20). x Penn Dixie Cement. . Penna RR (h50¢).... 7a Pere Marquette. . Petrol Corp of Am. Phelps Dodge. ..... Phila Co 6% (3). Phila & Read C& 1. Phillips Petroleum. . Pillsbury Flour(60c) Pitts United pf. . Plymouth Ol (1) Port Ric Am Tob(A) Postal Tel&Cable pf. Pressed Steel Car. ... % Proctor & Gam(134). 4 Public Sve N J(3.20). Public Sve NJ pt (8). Pullman Corp (3) 30 PureOil pf (2). 5% Purity Bakerfes (1). 3 Radlo Corp. . 6% Radio Corp pf (B)... 1% Radio-Keith-Orph. .. 5 Raybestos-Man (60c) 24 Reading Rwy (1).. 5% Real Silk Hoslery 2% Remington-Rand 1% Reo Motor Car. 4 Republic Steel. 261% Reynolds Tob B (3).. 3t Rossia Ins of Amer 17% Royal Dutch. .. 6 Rutland R R pf. 28 Safeway Stores (3) 634 St Joseph Lead. . 7 St L-San Francisc 1% St L-San Fran pf.. % Seaboard Air Line... 15 Seaboard Oil (150¢). 12% Sears Roebuck. 1% Second Nat Inv 1% Servel Inc 115 Sharon Steel Hoop. 613 Shattuck(FG) (24¢).x 4 Shell Union Oil. . 30 Sheil Union Ofl pf 4% Simmons Co... 3 Skelly Oil.... 22 Skelly Oil pf ww. 1% Snider Packing. . 6% Socony Vacuum 40c. 58 Solv Am pf ww(5%). 15% So Port Ric Sug 1.60. 19% Southern Cal Ed(2).. 11% Southern Pacific.... 4% Southern Railway... 5% Southern Railway pf 8 SoRyM&Octfs(4). % Sparks-Withington. . 7% Stand Gas & Elec. 14% Stand Gas&El pf 19% Stand Ofl Calif (2). 92% Stand Oil Exp pf (5. 22% Stand OIINJ (1) 2% Siewart Warner, 5% Stone & Webster. 2% Studebaker Corp. 18% Studebaker pf % Superior Oil. 8% Telautograph (1)... 10% Texas Corp (1)..... 15% Tex Gult Sulphur(1) 1% Tex Pacific Coal&Oil. 4 Tex Pacific Land Tr. 80s 134 88 405 1 309 108 557 17 227 608 1508 278 294 5 14 5 11 258 241 14 821 2 84 156 164 ... 1732 12 42 93 70 4 221 257 9 86 1 00 19% 6% 22% 8 157% 30 +1ll+ FEFSPE FEFE L+t ++ 41 EESEEE B8 ++1 0010 & & FEFES FEFFE FFEEF I+ ++ & & ! s & Fhl+0+l +11 ErEpEes e . re - - 2aFs wx"was L T el I A Summary ~Prev. 1033~ Stock and Sales Low. _ Dividend Rate. Add 00. T% 5% Thompson Products. 4 3% Tide Water Asso Oil. 44% 27 Tide Water Assoc pf. 45 Tide Wat Oil pf (5)., 3% 1% Timken-Detroit Axle 17% 13% Timken Roller Bg(1) 6 2% Transamerica Corp.. 4% 2% Tri-Contl Corp. 4 2 Truscon Stee] 19% Union Carb & C (1) 85 Un O1l of Calif (1) 64% Union Pacific (6) 63 Union Pacific pf 12% 10% Un Tank Car (1.40 28% 164 15 10% 28% 11% 80% 681 10% 5% Unit Corp (40c). 37% 29 Unit Corp pt (3) 4 2 Unit Electric Coal. 35% 23% Unit Fruit (2).. 20% 15% Unit Gas&Im (1.20). 23% 18 USGypsum (1), 27w U 8 Ind Alcohol. 9 US Leather (A)..... 10% U S Pipe&Fdy (50c). US P&F 15t pf 1.20.. U S Realty & Imp. U S Rubber..... U S Rubber 1st pf. 5 USSmtg & Ref (1). U S Smtg&Ref pf 3% U S Steel..... U S Steel pf (2). U S Tobaceo (4.40) 16 395 313 Univ Leaf Tob pf(8) x 90s % Unlv Pipe & Rad. . 2% Util Pwr & Lt (A 16% Vadsco Sales pf..... 100 24% 5% 3% Vi West Pa West Pa Western Western ‘Western Western l+l(++Ll+7+ G o 0 16 8 39% 34% Wrigley % 134 5% FEEF FREREL P §F EFLFFFESR 1+ i ¥ 10:30 AM.. 1:30 P.M. 5% a Pald 3 24% % 3% il g el [T 2% in stock. § o | SOCK. | m Paid las 5'Pavable in serip. 38% 24 Van Raalte 1st pf -Car Chem €% pf. 50% 89 Va-Car Chem 7% pf. 20% 12% Vulcan Detinning. Westing’: Westinghouse Elec. . Westinghse 1st (3%) White Rock M S (2). 4 3 | White Sewing Mach. Willys-Overland. ... Wilson & Co........ Wiison & Co (A).... Woolworth (2.40)... Worthington Pump. . 2% Yellow Truck.... 7% Youngstown Sh&Tn. 3% Zonite Products. Sales of Stocks on New York Exchange. s given in the above table are the annuai c: e latest quarterly or half-yearly declas & Payable in cash or stock. Plus $1 in special preferred stock. t year—no regular FINANCIA Elec ptf (7). Pwr pf (7) Dairy (B) Maryland. . Pacific Union. ..... 'se Air B(1). (Wm) (3). / | 150,000 12:00 Noon . 360,000 2:10 P.M. 620,000 100 shares. 1 Partly extra us this year—no regilar rate. b Payable in {Plus 8% In nkock. h Plus Plus 3% 1 Tate. nPlus 5% in stock. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. | NEW YORK, March 20.—Following is today'’s summary of corporation news prepared by Standard Statisties Co., Inc., New York, for the Asociated Press: Automobiles and Trucks. Chrysler Corporation has resumed operations with substantial number of unfilled orders on hand. ‘Willys-Overland Co. to reopen Toledo plant March 22 to make 6,900 trucks for International Harvester Co. Studebaker Corporation—Equity T ceivers appointed for company by Fed: eral Court, South Bend, Ind., on peti- tion of Edwards Iron Works, Inc. a creditor for $6,229; directors of com- pany consented to the appointments; it was stated legal entangiements in con- nection with merger of company with White Motor Co. was responsible for the 4 | recetvership. Chemicals and Fertilizers. Heyden Chemical Corporation 1932 common share earnings $1.23, vs. $1.49. Investment Trusts. Electrical Securities Corporation liqui- dating value on December 31 was $207.3f a preferred share, vs. $145.22 on De- % cember 31, 1931. Machinery. Caterpillar Tractor Co. February net loss was $167,430; two months’ net loss was $312,457. Miscellaneous. New York Investors, Inc., 1932 deficit $3.347,340, vs. net income $717.909. Pyrene Manufacturing Co. 1932 deficit $179.627 vs. deficit $132.121. St. Louis National Stock Yards Co. declared a dividend of $1.25; heretofore quarterly disbursements of $2 a share were made. oif. Kirby Petroleum Co. 1932 common share earnings 16 cents, vs. 11 cents. Paper and Paper Products. Smith (Howard) Paper Mills, Ltd., 1932, preferred share earnings before income tax were $3.36, vs. $3.28. Railroad and Railroad Equipment. Alabama Great Southern R. R. Janu- ary l:\el loss $75.310, vs. net loss $67.282 uary. 1932. J‘R!ll‘:’flc Coast Line R. R. net loss January $31884, vs. net loss $310936 anuary, 1932. . ¥ cmczgo Great Western R. R. net loss January $252855, vs. net loss $142,084 January, 1932. Chkruygo‘ Indianapolis & Louisville Ry. net loss January $221.351, vs. net loss $156,225 January, 1932. Florida East Coast Ry. net loss Janu- ary $101,851, vs. $80,039 January. 1932. Kansas City Southern Ry. February net railway operating income before rents $70,771, vs. $101,546 in February, 1932. Seaboard Air Line Ry. net loss Janu- | ary $624.772, vs. net loss $811,287 Janu- ary, 1932. rgnuthem Ry. net loss January $521.- 095, vs. met loss $1,202,862 January, 1932, Wheeling & Lake Erie Ry. net in- come January, 1933, $27,927, vs. $12,615 in January, 1932. Retail Trade. Western Auto Supply Co. February sales up 13.8 per cent; two months up 8.7 per cent. Utilities. New England Telephone & Telegraph Co. January gross revenue off 10.6 per cent; operating income off 17.1 per cent. Southern Cl“lléiin';: mm;‘t Cg l;l:e Company es 3 property dam: from recent earthquake at less than $150,000. Grain Market By the Associated Press. CHICAGO, March 20.—Wheat prices averaged lower early today. Moisture in domestic Winter wheat territory Southwest w;a'dlbbemh m\‘n“d’er al- though regar y many TS &S comulgs t00 late to be of material bene- fit to the wheat crop. Opening at Y decline to % advance, wheat later held near the initial limits. Corn started unchanged to Y higher and subsequently sagged somewhat. Evidence of selling by Government: financed agencies acted later as a weight on wheat values. It was also apparent that proposed agricultural leg- islative measures at Washington con- tinued to exert a disturbing influence. Numerous operators took the ground that all artificial price stimulants did more harm than good, and that ex- panding currency could afford only temporary relief unless supplemented by constructive developments. A steadying factor on price declines was official announcement that 45.8 per cent of last year’s domestic wheat crop would be used within the county where produced. This proportion compared with a 10-year average of 32 per cent and tended to confirm reports of in- creased activity of rural grist mills. Notice was also taken that the amount Provisions were about steady, helped by hog market upturns. PETROLEUM EXPORTS DROP. By the Associated Press. American exports of petroleum ucts to England were cut in S + %/ 1932, as com) STEL TRADE SEES BETER BUSIESS Industry Feels That Nation, Has Passed Low Point of Depression. | By the Associated Press. | | CLEVELAND, March 20.—A strong feeling in industrial circles that Govern- | | ment and industry had passed success- | fully through a crucial test is reflected in the weekly review of the magazine | Steel. | A greatly improved tone in iron and | steel markets was noted, although it | also was remarked that steelmakers were “under no delusion as to the ob- stacles still ahead.” It was added, however “Breaking down of the barriers to { trade, with the freer flow of credit, currency and checks, deflation of Gov- ernment costs and rising grain and other commodity and security values is im- parting a greatly improved tone.” ““This surge of confidence.” the maga- zine said, “has not yet resulted in an | impressive increase in iron and steel ‘consumptton. though it is responsible for releasing practically all tonnage suspended recently; it is impelling con- sumers to seek protection further ahead than at any time during the depression, and it is setting in _motion mechanism | certain to generate larger steel require- | ments, ¢ s« | “There is a strong feeling that Gov- ernment and industry have passed suc- cessfully through a crucial test and are gaining fresh vitality for the grind of recovery. “To some extent the trend is already | manifest in steelmaking operations. | which in the week ended March 18 re- covered all the ground lost in the pre- | vious week, and rebounded to 15 per | |cent (of normal). Further expansion seems assured for this week for the | reason reinstatement of suspended auto- } | motive requirements came too late to affect the rate last week.” MONEY MARKET. ‘ NEW YORK, M:rch 20 (#).—Further | easiness developed in money markets | today. The Stock Exchange call loan renewal rate was 3!, per cent against 4 per cent last Priday, but the quotaticn was | socn lowered to 3, which was the last | previous closing rate. Some cflerings were made out:ide at 2!, per cent. Time funds were lowered to 3 per cent for all maturities from 4 and com- ‘wmerclnl paper went to 3!, frcm 4. Several dealers cut bankers' ‘acceptance rate by seven-eights of 1 per cent. l Arrow Brings Down Eagle. FORSYTHE, Mo. () —Walter C.Mar- | tin, archery enthusiast, gave a demon- | stration of his skill ‘which was also | helpful to a flock of chickens on a farm | nexr here. A large gray eagle soared above the flock. Hurriedly choosing a hunting bow and a steel-tipped artow, | Martin_ approached within 80 yards of | (tihe marauder and brought the mlei lown. Organized 1879 JOHN JOY EDSON, President Always Remember— It is not what you earn, but what you Save That Counts. erties H. L. Rust 1001 Fifteeath Strest | pound, 50; oranges, 2.50a4.00: | censin _round whites, 6% First Mortgage Notes Secured on and income-producing prop- in the Columbia and adjacent Maryland suburbs. Washington Produce WHOLESALE PRICES. Butter—One-pound prints (93 score), 22; tub, 21; one-pound prints (92! score), 21; tub, 20; one-pound prints| (81 score), 20; tub, 19; one-pound prints (90 score), 19; tub, 18. [Eggs—Hennery, white, 11a12; current receipts, 10a11; Government graded, ex- tras, 18%; standards, 17; mediums, 16. Poultry. alive—Turkeys, hens, voung, old, 12al4; toms, 13al4; old, 8a10; chickens, hens, 13al5; Leghorn hens, 9all; Winter chickens, 13alf; stags, 8al0; roosters, 6a7; Plymouth Rocks, broilers, 20a22; fryers, 17a19; roasters, 17al9; mixed colored chick- , 14a16; keats, young, 25a40; old, 15a20; capons, 7 to 9 pounds, 18; 5 to 6 pounds, 15. Poultry, dressed — Turkeys, hens, young, 19a23; old, 15a17; toms, young, | son, and there was some | the I’heavy but not weak. | to the rank and file in the street. ISTOCK LIST MOVES IN NARROW RANGE Rail Group Shows Best Tone. Utilities and Indus- trials Heavy. ° BY GEOEGE T. HUGHES. Special Dispatch to The St NEW YORK, March 29—The stock market put in a walting day today. There were no significant changes in either direction. Railway shares were higher, wjih special strength in Delaware & Hud- ressurs on industrials, while utilities vere In commodities, wheat was lower, closing from 35 to 11, cents drwn. Selling was believed to be for account of the Government but there was no confirmation of that. Corn was un- changed to slightly higher. Cotton most of the time was steady. Sugar held its gain of Saturday. Silver in mid-afternoon was off 30 to 60 points. The foreign exchanges moved in favor of the dollar rather emphatic Sterling dropped over 2 cents, & francs 4'; points, guilders were un- changed and the PFrench franc was down fractionally. The market opened slightly higher, reacted fractionally and then hardened again and at noon was not mueh changed from Saturday’s close. The best showing was made by the railroad shares, which were steady when the industrials and the utilities were heavy. In fact. the action of the rails encour- aged traders to believe the market might stage a good-sized rally. The railway leader was Delaware & Hudson. buying in which was persistent and evidently for some reason unknr';‘wn 'he stock sold today only a point under the high of the year and at the best since action on the dividend was deferred in January. o Another well supported rail was Chesapeake & Ohio, bought on th good showing in the February earn. ing statement published today. Gross was _down from $7,682,749 on 1932 to $7.626139 this vear, a negligible de- crease, and net increased from $2,249,- 267 to $2.404,010. For the first two calender months of 1933 the réad earned 42 cents a share on the common against 34 cents in the first two months of 1932. Union Pacific. New York Cen- 16al17; old, 11a13; chickens, hens, 16a18; Leghorn hens, 12a13; Winter chickens, 18a19; stags, 11a13: roasters, 9al0; Plymouth Rocks, broilers, 23a25; fryers, 20a21; roasters, 20a22; mixed colored chickens, 17a19; keats, young, 28a43; old, 18a23; capons, 7 to 9 pounds, 21; 5 to 6 pounds, 18. Meats—Beef, 10; veal, 12; lamb, 14; pork loins, uits—Watermelons, Argentina, 15 tral, Atlantic Coastiine and Atchison, |among others, were all more or lpss ! higher. | The Studebaker receivership an= | nounced over the week end was a sur- prise and had an adverse effect on the | motor shares. Studebaker common ang |preferred made new lows. Genera | Motors and Du Pont were heavy. Coir products, for some unknown reasor was 1n supply and there was for a tiny quite some selling of United Aircraft |Sugar stocks were firm. Americg sugar preferred made a new high Io' to 18 pounds, 2.00a2.50; grapes, Argen- | the year and South Porto Rico common tina, “Almeira’s and Muscatels, per lemons, isold at the high established Saturday, 400a5.00; grapefruit, 2.50a2.75; per 100, 2.00; strawberries, 6.00; tenger- | Federal Reserve Credit Item. ines, 2.00a2.25; bananas, 1.25a2.50; ap- | By the Associated Press. ples, fancy box stock, 1.75a2.25; nec- tarines, 175; honeydews, ples, 4.00a6.00; rhubarb, 40a50. Vegetables — Potatoes, New York, 1.10: Idaho bakers, 1.75a 2.00; sweets, 60a75; cabbage, new, 1.00a 1.50; old, 85a90; turnips, 75; parsnips, 50a75; celery, 2.50a2.75; lettuce, ice- berg. 3.00a3.25 limas, 3.00a3.25: peas, 3.00a3.50; egg- plant, 2.00a2.50; tomatoes, repacks, 3-pan, 1.25a1.75; lugs, 2.00a2.50; cauli- flower, 1.50a1.75; broccoli, 3.00; ach, 1.00: kale. 35a40: carrots, crates, 125; beets, crates, 1.25; corn, 3.00; okra, pans, 75; asparagus, 2.50a6.00, POTATO MARKET. CHICAGO, March 20 Potatoes—Receipts. 138 cars: on track, | 268; total United States shipments Sat- | urday, 1,183; Sunday, 18: firm; demand and trading slow; supplies liberal; Wis- | 70a77';: mostly 721-a75; Idaho russets, 1.15a1.20; Min- nesota early Ohios, 87%2; cobblers, 85. NEW YORK B.ANKEI'OCKS NEW YORK. March 20 (#).—Over- the-counter market: (Quotations as of 10 O'clock.) Banks. Bid = id Aske Chase (2) ....... 43y E Commercial (%} Pirst National Manhattan (2) . National City (1) Public (2) xd Bankers' (3) Brooklyn Trus! Central Hanover (* Chemical (1.80] Gontinental '(1.20) Corn Exchange (4) Empire (2) . ua; Irving (1) . Manufacturers’ Title Guarty & Tr. (4.80) New York Trust (5)....... *Includes extra. 93 L | 53rd YEAR COMPLETED Equitable Co-Operative Bldg. Ass'n WALTER S. PRATT. Jr., Secretary Assets.......oooeiiiiniennnn.. $6,251,00624 Subscriptions for the 104th Issue of Stock Being Received JOIN THE EQUITABLE AND SAVE SYSTEMATICALLY The Equitable’s Plan of systematic saving has taught Thousands how to save and accomplish gut Results. Join To- ay. 915 F St. N.W. e residences District of Company National 8100 2.00; pineap- | outstanding during Maine, 125;| spin- | (®) (United | but the total States Department of Agriculture) — | $35.261,000. Reserve Bank credit | the week ended March 15 showed a sharp drop, as com- ‘Total Federal !pared with the previous week, as the |change was calculated by the Reserve |Board. In the table that follows the amount of such credit is given for com- parable periods as reported by the $3.525,000,000 3,644,000,000 1.£24,000,000 string beans, 1.50a1.75; | board: { Week ended March 15.. { Previous week Same week last y i NEW BOND ISSUES. NEW YORK. March 20 (#).-— New | bond issues offered in the New York | market last week totaled $900,000, | There were none in the previous week, for a year ago was U. S. Government Bonds Public Utility Bonds New York & Wash. Bank Stocks Investment Trust Shares Real Estate Bonds & Notes Brewery Stocks Bought, Sold and Quoted COLONY COMPANY Washington Bldg. Met. 232 REAL ESTATE NOTES YIELDING | INTEREST AND R KPoRD | INC. "First trust notes well secured on | detached. modern residences. for sale at par_and accrued interest. )_K_St_N.W. NA._0478. First Mortgages FOR SALE 6% Interest JAMES F. SHEA : 643 Indiana Ave. N.W. ~ ANNUITY PROVIDES - NCREASED :th QUPREME: NCOME "™ JECURITY BOOKLET MAILED ON REQUEST LEROY GOFF 1036 Woodward NAt. ¢ ENTERPRISE SERIAL BULIDING ASSOCIATION * 7th and Indiana Ave. NW. LOANS On Improved Distriet of Co- lumbia Real Estate Security 69th Series of Stock Now Open for Subscription James E. Connelly, James F. Shes, President Secretary . 5% DIVIDENDS Paid on Savings A good, substantial rate of earnings that will materially aid your savings to grow. The National Permanent will welcome your account. PERMANE‘JT. BUILDING ASSOCIATION -